Why Oil Prices Will Stay High -- and It's Not All About Russia
The price of oil topped $130 per barrel late on Sunday, and despite falling back to around $120 per barrel on Monday, there doesn't seem to be any stopping high prices in general. Russian oil is the news of the day, with countries in Europe trying to find ways around buying Russian oil.
In the long term, the disruption in the Russian oil supply to the global market has put a magnifying glass on the lack of oil exploration over the last decade. High oil prices aren't a short-term phenomenon, they're the product of nearly a decade of underinvestment by the oil industry, and there's no flood of money coming anytime soon.
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Source Fool.com
